When you’re buying a home, whether it’s to live in as your primary residence or as an investment, you’re undoubtedly going to need a mortgage.
Most people will walk into their bank to get their mortgage because that seems like the most logical thing to do, however, it may not be the best thing for you to do financially!
Most people will walk into their bank to get their mortgage because that seems like the most logical thing to do, however, it may not be the best thing for you to do financially!
As you may or may not know, mortgage rates at the banks differ from time to time. Sometimes, one bank will offer better rates than other banks. No bank ever offers the best rates all the time, so if you go to the bank you’ve banked with your whole life, you may not be getting the best rate available.
On a $400,000 mortgage, a difference in rate as little as 0.10% could cost you $1,200 more over a typical 5-year mortgage term.
Knowing this, you probably want to shop around for a better rate now, but that also involves a lot of work as you have to visit many different lenders and fill out multiple applications which will result in multiple credit checks. That is not only very inconvenient, but potentially harmful to your credit, as multiple credit checks within a short period of time raises “red flags” that will turn off lenders from approving a mortgage for you.
On a $400,000 mortgage, a difference in rate as little as 0.10% could cost you $1,200 more over a typical 5-year mortgage term.
Knowing this, you probably want to shop around for a better rate now, but that also involves a lot of work as you have to visit many different lenders and fill out multiple applications which will result in multiple credit checks. That is not only very inconvenient, but potentially harmful to your credit, as multiple credit checks within a short period of time raises “red flags” that will turn off lenders from approving a mortgage for you.
So now you may be wondering, “How do I find myself the absolute best rate possible without having to make a million trips to different banks and have my credit report pulled every time?”, the answer is simple, use a Mortgage Broker likeME.
By using a mortgage broker, you are getting the same rate that you would if you visited each lender yourself, but instead of making multiple trips and wasting your time, you visit me once and I take care of the rest for you.
After receiving your application for a mortgage, I can access a database that shows all the mortgages that you qualify for and offer you the best mortgage rate on the market. Because I have access to all the best lenders (including all the major banks, credit unions and specialized lenders), I’m also able to offer mortgage options for people with all types of credit and financial situations. In many situations, Banks would not even consider doing these types of transactions, but when you go through a Mortgage Broker, it opens up many doors for you.
After receiving your application for a mortgage, I can access a database that shows all the mortgages that you qualify for and offer you the best mortgage rate on the market. Because I have access to all the best lenders (including all the major banks, credit unions and specialized lenders), I’m also able to offer mortgage options for people with all types of credit and financial situations. In many situations, Banks would not even consider doing these types of transactions, but when you go through a Mortgage Broker, it opens up many doors for you.
For those of you who already have an existing mortgage, when it comes time to renew your mortgage, most people simply renew with the lender that provided them their current mortgage. This may be the easiest option, but like before, it is unlikely to be your best financial option! By getting your mortgage through me, I can help you shop for the best rate again at the time of renewal. This could save you thousands of dollars each and every time you renew! Even if you did not get your current mortgage through me, I can help you find a mortgage at renewal time that will give you a better rate than what you are currently being offered.
The best part is that you don’t pay me a single penny to do this for you, as the lender pays me out of their own pocket for bringing your business to them. As a result, it’s a Win-Win-Win situation. You Win because you get the best rate, the lender Win’s because they get a client who they may not have got on their own and I Win because the lender pays me a fee for my services.
The best part is that you don’t pay me a single penny to do this for you, as the lender pays me out of their own pocket for bringing your business to them. As a result, it’s a Win-Win-Win situation. You Win because you get the best rate, the lender Win’s because they get a client who they may not have got on their own and I Win because the lender pays me a fee for my services.
So whether you’re getting your first mortgage or renewing your mortgage, contact me first so that I can help you find the best mortgage rate out there! It could save you thousands of dollars and that’s something everyone enjoys!
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